EXTREME PREDICTION LEADERBOARD "this is peak now. Wanna bet? The Real Pain starts . . . now." (11/21/18)" --pstarr"$0/barrel soon as per etp." (12/30/18)" --pstarrATTN: SHORT LOST A BET AND WON'T EVEN ADMIT HE MADE ONE. HE SHOULD NOT BE WELCOME HERE!!!

“Clugston argues that our modern industrialized civilization and improving standards ofliving are made possible by an indispensable use of fossil fuels, metals, and non-metallicminerals that are never replenished in any relevant time span. There are 89 of these nonrenewable minerals and Clugston meticulously analyses each. Those that are viableeconomically are becoming scarcer and more costly. When their extraction/ productionceases to rise, as is now happening, it is inevitable that a sharp decline in global societalwellbeing must follow. Indeed, he shows that the Great Recession of 2008 wasprecipitated by the rising costs of non-renewable natural resources NNRs.”

EXTREME PREDICTION LEADERBOARD "this is peak now. Wanna bet? The Real Pain starts . . . now." (11/21/18)" --pstarr"$0/barrel soon as per etp." (12/30/18)" --pstarrATTN: SHORT LOST A BET AND WON'T EVEN ADMIT HE MADE ONE. HE SHOULD NOT BE WELCOME HERE!!!

Coal use hits new record in India, with both India's domestic coal production AND coal imports hitting record levels.

[url=economictimes.indiatimes.com/articleshow/69286279.cms]Coal use continues to grow in India[/url]

India was the world’s second largest producer of coal in 2017, the latest year for which data is available, according to the International Energy Agency (IEA). The country produced a tenth of the world’s coal, while China topped the list with 45% of global production. India was also the second largest coal importer, with a 16% share. China accounts for nearly half of global coal consumption, with India’s share at 13%.

India's economy is growing rapidly, and their use of coal is set to increase as well.

With OPEC production curtailed because of issues in Libya and Venezuela, as well as a feeling of Saudi price supports, what will get interesting is that lesser demand (slightly slowing global economy appears to be happening) combined with US increasing output as long as the price remains higher brings 2 things into direct conflict.

The price needs to drop to balance supply and demand.

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

Peak oil has been here for a century now, since the USGS declared it for the US in 1919. And this article is from 6 years ago...and seems to recycle some of the same ideas that didn't work last time, same claims, same arguments.

Do you have any reference from someone who has learned why a centuries worth of claimed peak oils haven't worked out as claimed, and corrected for all that cumulative stupid?

Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0

To confirm that statement all that is needed to be known is that the replacement cost of a barrel of oil is now more than twice the value of the oil. The economic part follows right behind without much cephalic effort. Once existing fields go into decline they can not be replaced, and the IEA says that is now happening at the rate of 4½ % per year.

The world's economy is now dying from energy starvation. QED

There is likely to be some "official" response to the situation in the near future. It is also likely that the cure will be worse than the disease.